Tata stocks crashed on Friday; investors lost over Rs.52k crore - Will shares bounce back today amid boardroom battle?
New Delhi, Sept. 21 -- Tata Group stocks came under heavy pressure on Friday last week, slipping up to 10%, with investors losing over Rs.52,000 crore. Tata Group stocks came under pressure on September 18 after a fresh escalation in the dispute over the leadership and future structure of Tata Sons, the unlisted holding company of the conglomerate.
On Friday, Tata Chemicals declined nearly 10% in early trade, while Tata Investment Corporation fell around 4%, Tata Motors Passenger Vehicles dropped about 2.6% and Tata Power slipped roughly 1.4%. The developments have heightened concerns over governance, succession and the future structure of Tata Sons.
The sell-off followed Tata Trusts' opposition to the Tata Sons board's decision to reap...
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